Financial and Banking News

LOANS AND ISSUES

BAII Aranging Algerian FRN 

The Paris-based Banque Arabe et Internationale d'Investissments (BAII) is arranging a $500mn issue of floating rate notes (FRNs) for Banque Exterieure d'Algerie (BEA). The notes are due in 2000 with a lenders' put option after 8, 10 and 12 years. The spread is 0.25% over Libor with a minimum interest rate of 5.25% and commissions of 1.875% (including a 0.1875% praecipium for the 12 lead managers)....